Flat buyers believe govt will cool housing market

Nearly 57 percent of home buyers in Singapore believe the government is either on track or will likely exceed expectations to cool the public housing market in five years.

This includes 19.9 per cent who feel prices will stabilise over the next one to two years.

And another nearly 37 per cent who feel three to five years is a fair assessment for public housing prices to stabilise.

The poll was conducted by Singapore property website, iProperty.com.sg, from August to November this year.

It asked 1,033 respondents for their opinions on whether public housing prices will stabilise within the next three to five years as mentioned by Minister for National Development Khaw Boon Wan earlier this year.

Only 31.9 per cent feel prices will never stabilise and more radical measures are needed.

The government launched a series of new Build-to-Order projects in July, September and November, injecting several thousand new units to bring stability to the public housing market.